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Clare Hudson
Clare Hudson
  • 1 Minute Read
  • 28th July 2011

Property close by to the 2012 Olympic Games main stadium increases in value

search-office-space-hackney-150x150Research conducted by Lloyds TSB shows that property surrounding the Olympic Stadium in East London has significantly increased in value. Many homeowners living close by to the main stadium have seen thethe value of their house rise by as much as £60, 000.

On average, houses in the East London area rose by 28%. People living in Homerton and Dalston, both in the borough of Hackney saw the highest rise in property prices when compared to other local areas. Contrastingly, East Ham and Plaistow showed the slowest growth increase at only 8%.

Housing Economist for Lloyds TSB, Suren Thiru said: “Interest in the East London housing market from both buyers and investors has increased markedly since London was awarded 2012 Olympic and Paralympic Games, partly reflecting the substantial regeneration taking place there. However, despite this, house price performance in the postal districts closest to the main site of the Games has been rather mixed with some of these areas recording significantly larger house price increases compared to neighbouring districts.”

Source: Olympic effect sees property price increases in East London, study shows